@dunkedbrinks
A governance token in DeFi is a type of token that allows its holders to vote on important decisions regarding the development and operation of a decentralized protocol or platform. These tokens give users a say in key matters such as changes to the protocol, fee structures, upgrades, or even the allocation of resources within the platform. Essentially, governance tokens enable decentralized decision-making, promoting a community-driven model instead of relying on a central authority. By holding governance tokens, users have the ability to influence the direction and future of the platform, often making it a crucial aspect of decentralized projects.
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